What do you do when you need money fast—like when your six-year-old Macbook crashes once and for all, or your car breaks down and you need to get to work—but you’re not getting paid for another two weeks? In that case, you may want to reach for an online payday loan.

A payday loan is a short-term loan from an online money service that debits the loan directly into your account. It’s meant to offer you financial aid until your next paycheque (or payday), which means this loan can be borrowed for only a few weeks and tends to carry high fees.

The appeal of payday loans is that they’re typically easy to qualify for. In fact, you can get one without a credit check in most cases, making it a handy option for someone with bad credit. Payday loans do, however, generally come with a flat interest rate charged in addition to the principal when you’re paying back the loan, and the loan must be paid in full by the time you receive your subsequent paycheque. Late payments could lead to more fees and interest charges and get you trapped in a debt cycle that’s hard to escape.

Here’s how to determine whether an online payday loan is the best option for you and, if so, how to find the best one in Canada.